Expected Value Answers

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The expected value for the number of heads is .

0.5

1.5

The expected value in this case means .

if you flip a coin twice, heads will turn up 1 time

after repeated trials of flipping a coin twice, the average number of times heads will turn up is 1

after repeated trials of flipping a coin twice, the average number of times heads will turn up is 1/2

The expected value of the number of points won on a spin is .

–0.25 points

0 points

0.5 points

1 point

1.25 points

Suppose you spin the carnival spinner 1,000 times. How many points would you expect to win or lose?

lose 500 points

lose 250 points

win 250 points

win 500 points

What is the expected value? Should you play the game?

3/13 points; yes, you should play the game

0 points; yes, the game is fair and you should play

–3/13 points; no, you should not play the game

For what expected value is a game fair?

E(X) < 0

E(X) = 0

E(X) = 1

E(X) > 0

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